In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), TrueCar Inc. (NASDAQ:TRUE) reported that Painter Scott. has picked up 7,965,017 of common stock as of 2017-02-08.
The acquisition brings the aggregate amount owned by Painter Scott. to a total of 7,965,017 representing a 8.6% stake in the company.
For those not familiar with the company, TrueCar, Inc. offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises. Its network of approximately 11,000 TrueCar Certified Dealers consists primarily of new car franchises, as well as independent dealers selling used vehicles. Its subsidiary, ALG, Inc., provides forecasts and consulting services regarding determination of the residual value of an automobile at given future points in time. It obtains automobile purchase data from various sources and uses this data to provide consumers and dealers with geographically specific, real-time pricing information.
A glance at TrueCar Inc. (NASDAQ:TRUE)’s key stats reveals a current market capitalization of 1.16 billion based on 85.46 million shares outstanding and a price at last close of $13.30 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-03-09, Claus picked up 5,000 at a purchase price of $5.70. This brings their total holding to 80,000 as of the date of the filing.
On the sell side, the most recent transaction saw Buce unload 40,100 shares at a sale price of $12.61. This brings their total holding to 262,967.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on TrueCar Inc. (NASDAQ:TRUE) as things move forward to see if its progress aligns with these transactions.
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